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OPERATING COSTS BY NATURE

12 Months Ended

Dec. 31, 2017

Analysis of income and expense [abstract]

OPERATING COSTS BY NATURE

OPERATING COSTS BY NATURE

a)Cost of sales

Years ended December 31	2017		2016
	$		$
Cost of inventory	242,998		250,506
Depletion, depreciation and amortization	102,416		75,569
Moratorium (settlement) / export duty accrued (note 13)	(4,303	)	1,512
(Recovery) write down of inventory provision (note 7)	(5,710	)	3,701
Restructuring costs (1)	109		5,692
	335,510		336,980

⁽¹⁾ During 2017, we recorded restructuring costs of $109,000 (2016 - $5,692,000) as it related to employee termination costs incurred at Pirquitas in conjunction with the cessation of open pit mining in 2017.

b)General and administrative expenses

Years ended December 31	2017		2016
	$		$
Salaries and benefits	9,029		8,885
Share-based compensation	4,225		7,947
Consulting and professional fees	2,288		1,380
Travel expense	562		552
Rent expense	703		682
Insurance expense	569		658
Computer expenses	789		697
Depreciation and amortization	202		262
Shareholder and investor relations	323		234
Listing and filing fees	251		140
Directors fees and expenses	227		163
Other expenses	1,139		491
	20,307		22,091

OPERATING COSTS BY NATURE

OPERATING COSTS BY NATURE

a)Cost of sales

Years ended December 31	2017		2016
	$		$
Cost of inventory	242,998		250,506
Depletion, depreciation and amortization	102,416		75,569
Moratorium (settlement) / export duty accrued (note 13)	(4,303	)	1,512
(Recovery) write down of inventory provision (note 7)	(5,710	)	3,701
Restructuring costs (1)	109		5,692
	335,510		336,980

⁽¹⁾ During 2017, we recorded restructuring costs of $109,000 (2016 - $5,692,000) as it related to employee termination costs incurred at Pirquitas in conjunction with the cessation of open pit mining in 2017.

b)General and administrative expenses

Years ended December 31	2017		2016
	$		$
Salaries and benefits	9,029		8,885
Share-based compensation	4,225		7,947
Consulting and professional fees	2,288		1,380
Travel expense	562		552
Rent expense	703		682
Insurance expense	569		658
Computer expenses	789		697
Depreciation and amortization	202		262
Shareholder and investor relations	323		234
Listing and filing fees	251		140
Directors fees and expenses	227		163
Other expenses	1,139		491
	20,307		22,091

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The disclosure of the cost of sales. [Refer: Cost of sales]

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The disclosure of general and administrative expenses. [Refer: Administrative expenses]

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